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How Free Markets Work

What will be ...

Question

What will be aggregate quantity demanded at market price of Rs. 4.0 per unit?

A

30,000

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B

22,000

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C

20,000

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D

24,000

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Solution

The correct option is C 20,000
Dx = 12 - 2px ...(Individual demand)
px = Rs. 4.00
no. of consumers = 5,000
ADx = 5,000 [12-2(4)] ....(Aggregate market demand)
= 5,000 [4]
= 20,000

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